Companies in plant-based food and beverage companies have been seeing a massive growth rate in recent years, with the growth of demand for the industry’s products. Therefore, investors would inevitably rally into looking for the best vegan stocks to buy.
In the pandemic struck 2020 for example, when naturally, there was a notably increased health consciousness among consumers, the U.S. plant-based food market grew by 27% to reach $7 billion, growing nearly twice as fast as the total U.S. retail food market.
2021 and 2022 were notably slow in terms of growth for the vegan industry. However, a Bloomberg report on plant-based food and beverage suggests that revenue generated from plant-based products could grow to $166 billion by 2031 from less than $50 billion today. The report also stated they believed the industry would reach a 5% penetration of the global meat market by 2031 from the current 0.8%. According to Boston Consulting Group, the alternative protein market is expected to reach $290 billion by 2035.
Here are a few vegan stocks and a bonus vegan ETF that you should consider for your portfolio
